US STOCKS-Futures fall after weak IBM earnings

lunes 20 de octubre de 2014 07:49 GYT
 

* IBM slumps after quarterly results

* Apple earnings due after the close

* Futures off: Dow 102 pts, S&P 7 pts, Nasdaq 10 pts

By Chuck Mikolajczak

NEW YORK, Oct 20 (Reuters) - U.S. stock index futures were lower on Monday, following a fourth week of losses for the benchmark S&P, as quarterly results from IBM disappointed.

* IBM shares slumped 7.7 percent to $168.10 in premarket trade after the company's third-quarter earnings fell well short of Wall Street expectations. IBM had earlier said it would pay Globalfoundries $1.5 billion in cash over the next three years to take its its loss-making semiconductor unit.

* The S&P 500 rallied on Friday to pare its weekly decline, but still notched its longest stretch of weekly losses since August 2011. The S&P index is now down 6.2 percent from its record high, hurt by worries about the health of the global economy, the spread of the Ebola virus and uncertainty about the next steps for the Federal Reserve.

* Earnings season will ramp up significantly this week, with nearly 130 S&P 500 companies scheduled to report, include Apple Inc after the close on Monday.

* According to Thomson Reuters data through Friday, of 81 companies in the S&P 500 that have reported quarterly earnings, 64 percent beat analyst expectations, slightly above the 63 percent average since 1994 but below the 67 percent rate for the past four quarters.   Continuación...